Homework Answers
Requirement 1
|
Date |
General Journal |
Debit |
Credit |
|
July 1 2012 |
Delivery truck-A |
$ 1,25,000.00 |
|
|
Cash |
$ 1,25,000.00 |
||
|
(Delivery truck purchased) |
|||
|
January 1 2013 |
Delivery truck-B |
$ 95,000.00 |
|
|
Delivery truck-C |
$ 96,000.00 |
||
|
Cash |
$ 1,91,000.00 |
||
|
(Delivery truck purchased) |
|||
Requirement 2
|
2013 |
|
|
Delivery truck A |
$ 11500 |
|
Delivery truck B |
$ 38000 |
|
Delivery truck C |
$ 1680 |
|
Straight line Method |
||
|
A |
Cost |
$ 1,25,000.00 |
|
B |
Residual Value |
$ 10,000.00 |
|
C=A - B |
Depreciable base |
$ 1,15,000.00 |
|
D |
Life [in years left ] |
10 |
|
E=C/D |
Annual SLM depreciation |
$ 11,500.00 |
|
Double declining Method |
||
|
A |
Cost |
$ 95,000.00 |
|
B |
Residual Value |
$ 7,500.00 |
|
C=A - B |
Depreciable base |
$ 87,500.00 |
|
D |
Life [in years] |
5 |
|
E=C/D |
Annual SLM depreciation |
$ 17,500.00 |
|
F=E/C |
SLM Rate |
20.00% |
|
G=F x 2 |
DDB Rate |
40.00% |
|
Year |
Beginning Book Value |
Depreciation rate |
Depreciation expense |
Ending Book Value |
Accumulated Depreciation |
|
2013 |
$ 95,000.00 |
40.00% |
$ 38,000.00 |
$ 57,000.00 |
$ 38,000.00 |
|
Units of Production method |
||
|
A |
Cost |
$ 96,000.00 |
|
B |
Residual Value |
$ 6,000.00 |
|
C=A - B |
Depreciable base |
$ 90,000.00 |
|
D |
Usage in units(in Miles) |
150000 |
|
E |
Depreciation per Mile |
$ 0.60 |
|
Year |
Book Value |
Usage |
Depreciation expense |
Ending Book Value |
Accumulated Depreciation |
|
2017 |
$ 96,000.00 |
2800 |
$ 1,680.00 |
$ 94,320.00 |
$ 1,680.00 |
Add Answer to:
In the recent years, PT Angus has purchased three delivery trucks Because of frequent employee turnover...
In the recent years, PT Angus has purchased three delivery trucks Because of frequent employee turnover...
In the recent years, PT Angus has purchased three delivery trucks Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method of each delivery truck, and various methods have been used. Information concerning the delivery trucks is summarized in the table below Delivery AcquiredCost Salvage Useful Life Depreciation Method Truck Value (in years) A July 1, 2012 $125,000S 10,000 B January 1, 2013 S 95,000S 7,500 10 Straight-line Double declining...
In the recent years, PT Agrees has purchased three delivery trucks. Because of frequent employee turnover...
In the recent years, PT Agrees has purchased three delivery trucks. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method of each delivery truck, and various methods have been used. Information concerning the delivery trucks is summarized in the table below. Acquired Cost Delivery Truck Α B Salvage Value $ 10,000 $ 7,500 Useful Life (in years) 10 July 1, 2012 January 1, 2013 $115,000 $ 95,000 Depreciation Method...
P9-7B In recent years Howard Company has purchased three machines. Because of frequent employee turnover in...
P9-7B In recent years Howard Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the tab below. Useful Life Salvage Value $5,000 Depreciation Method Straight-ine (in years) Acquired July 1, 2012 Cost $68,000 Machine 1 4 Declining-balance 64,000 6,000 2 Apr. 1, 2013 4,000 8 Units-of-activity Sept 1,...
Problem 2 In recent years, Dolittle Company has purchased three machines. Because of frequent employee turnover...
Problem 2 In recent years, Dolittle Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Useful Life (in vears) Machine Acquired Jan. 1, 2016 July 1, 2017 Nov. 1, 2017 Cost $96,000 85,000 66.000 Salvage Value $12,000 10,000 6,000 Depreciation Method Straight-line Declining-balance Units-of-activity For...
In recent years, Sheridan Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Sheridan Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Useful Life (in years) Depreciation Method Machine Salvage Acquired Cost Value Jan. 1, 2015 $133,000 $45,000 July 1, 2016 86,500 10,500 Nov. 1, 2016 68,2008,200 8 Straight-line Declining-balance Units-of-activity For the declining-balance...
In recent years, Pharoah Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Pharoah Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine Acquired Salvage Value Cost Useful Life (in years) Depreciation Method Straight-line Jan. 1, 2015 $135,500 July 1, 2016 81,500 Nov. 1, 2016 77,600 $35,500 10,200 7,600 5 Declining-balance Units-of-activity For the...
In recent years, Oriole Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Oriole Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Salvage Useful Life Depreciation Method Machine Acquired Cost Value (in years) 1 Jan. 1, 2020 $132,500 $52,500 8 Straight-line 2 July 1,2021 91,000 11,800 5 Declining-balance 3 Nov. 1,2021 71.900 7,900 Units-of-activity...
In recent years, Ivanhoe Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Ivanhoe Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine Acquired Cost Salvage Value Useful Life (in years) Depreciation Method Jan 1, 2020 $135,500 $25,500 10 Straight-line Declining-balance July 1, 2021 Nov. 1, 2021 80,000 77,600 11,400 8,600 7 Units-of-activity For...
In recent years, Crane Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Crane Company has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below.
Machine
Acquired
Cost
Salvage
Value
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2015
$130,500
$30,500
10
Straight-line
2
July 1, 2016
88,000
10,100
5
Declining-balance
3
Nov. 1, 2016
76,100...
In recent years, Sheridan Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Sheridan Company has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below.
Machine
Acquired
Cost
Salvage
Value
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2020
$133,000
$45,000
8
Straight-line
2
July 1, 2021
86,500
10,500
5
Declining-balance
3
Nov. 1, 2021
68,200...
In the recent years, PT Angus has purchased three delivery trucks Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method of each delivery truck, and various methods have been used. Information concerning the delivery trucks is summarized in the table below Delivery AcquiredCost Salvage Useful Life Depreciation Method Truck Value (in years) A July 1, 2012 $125,000S 10,000 B January 1, 2013 S 95,000S 7,500 10 Straight-line Double declining...
In the recent years, PT Agrees has purchased three delivery trucks. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method of each delivery truck, and various methods have been used. Information concerning the delivery trucks is summarized in the table below. Acquired Cost Delivery Truck Α B Salvage Value $ 10,000 $ 7,500 Useful Life (in years) 10 July 1, 2012 January 1, 2013 $115,000 $ 95,000 Depreciation Method...
P9-7B In recent years Howard Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the tab below. Useful Life Salvage Value $5,000 Depreciation Method Straight-ine (in years) Acquired July 1, 2012 Cost $68,000 Machine 1 4 Declining-balance 64,000 6,000 2 Apr. 1, 2013 4,000 8 Units-of-activity Sept 1,...
Problem 2 In recent years, Dolittle Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Useful Life (in vears) Machine Acquired Jan. 1, 2016 July 1, 2017 Nov. 1, 2017 Cost $96,000 85,000 66.000 Salvage Value $12,000 10,000 6,000 Depreciation Method Straight-line Declining-balance Units-of-activity For...
In recent years, Sheridan Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Useful Life (in years) Depreciation Method Machine Salvage Acquired Cost Value Jan. 1, 2015 $133,000 $45,000 July 1, 2016 86,500 10,500 Nov. 1, 2016 68,2008,200 8 Straight-line Declining-balance Units-of-activity For the declining-balance...
In recent years, Pharoah Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine Acquired Salvage Value Cost Useful Life (in years) Depreciation Method Straight-line Jan. 1, 2015 $135,500 July 1, 2016 81,500 Nov. 1, 2016 77,600 $35,500 10,200 7,600 5 Declining-balance Units-of-activity For the...
In recent years, Oriole Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Salvage Useful Life Depreciation Method Machine Acquired Cost Value (in years) 1 Jan. 1, 2020 $132,500 $52,500 8 Straight-line 2 July 1,2021 91,000 11,800 5 Declining-balance 3 Nov. 1,2021 71.900 7,900 Units-of-activity...
In recent years, Ivanhoe Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine Acquired Cost Salvage Value Useful Life (in years) Depreciation Method Jan 1, 2020 $135,500 $25,500 10 Straight-line Declining-balance July 1, 2021 Nov. 1, 2021 80,000 77,600 11,400 8,600 7 Units-of-activity For...
In recent years, Crane Company has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below.
Machine
Acquired
Cost
Salvage
Value
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2015
$130,500
$30,500
10
Straight-line
2
July 1, 2016
88,000
10,100
5
Declining-balance
3
Nov. 1, 2016
76,100...
In recent years, Sheridan Company has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below.
Machine
Acquired
Cost
Salvage
Value
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2020
$133,000
$45,000
8
Straight-line
2
July 1, 2021
86,500
10,500
5
Declining-balance
3
Nov. 1, 2021
68,200...
Most questions answered within 3 hours.
-
Project management question:
Name 3 different types of resources (hint: humans are one
type)
asked 1 minute from now -
Consider the following reaction: C 2H 2( g) + 2H 2( g) C 2H 6(
g)...
asked 6 minutes ago -
Consider a 1.0 L buffer containing 0.092 mol L-1 HCOOH and 0.100
mol L-1 HCOO-. What...
asked 15 minutes ago -
Koch Realty has owned a vacant land with a FMV of
$775,000 and an adjusted basis...
asked 21 minutes ago -
It is estimated 29% of all adults in United States invest in
stocks and that 85%...
asked 21 minutes ago -
What does a 2-sided p value of 0.04 mean? (I am not asking if it
is...
asked 34 minutes ago -
A parallel-plate capacitor is made from two aluminum-foil
sheets, each 7.8 cmcm wide and 5.1 mmlong....
asked 36 minutes ago -
1. why is toluene a stronger nucleophile than benzene?
2.why is phenol a stronger nucleophile than...
asked 53 minutes ago -
4. How can you solve for the density of the liquid from the
slope? Please show...
asked 53 minutes ago -
when 2053 j of heat is added to 46.3 g of hexane C6H14 the
temperature increases...
asked 1 hour ago -
I need new and unique answers, please. (Use your own words,
don't copy and paste), Please...
asked 1 hour ago -
MCL 445.111 et seq. deals with Home Solicitation Sales.
MCL stands for Michigan Compiled Laws which...
asked 1 hour ago